Church of England reviews defined benefit pension scheme

The Church of England is reviewing its defined benefit pension scheme in an effort to keep it open to all employees.

The proposals include increasing the accrual period for a full pension from 37 to 40 years for future employees and setting up a new policy with no discretionary link between pension and stipend increases for clergy.

A Church of England spokesman said: “Many organisations are currently ending their defined benefit schemes. To avoid having to take such action, the Church of England is considering a range of options to retain the benefits of this type of scheme, which we recognise is an important part of the overall package we offer stipendiary clergy.”